Can someone explain me what is "double spending" in Cryptocurrency transaction?

in #cryptocurrency • 5 years ago

View the original post on Musing.io

Double spending, as the name suggests, is a term that is used to refer to the possibility of spending a particular money or coin two or more times.

Obviously, this can only happen when a crypto is not secure and is not immutable from fraud and other cyber breach.

Today, Bitcoin has become farmidable coin because double spending is not possible on its network.

5 years ago in #cryptocurrency by
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     5 years ago 

    I would actually also like to know more on that topic @gandhibaba

    is double spending in crypto still possibility? I understand that with FIAT currency it could happen, but with crypto? Interesting.

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       5 years ago 

      Yes it's possible with some hacking power. A while ago new broke that double spending was possible on the BitcoinSV blockchain before the bug was fixed.

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       5 years ago 

      I wasn't aware of that ....

      thx for replying so fast buddy. I always appreciate
      Piotr

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